Mises Daily Email

Friday, January 16, 2026

The Federal Reserve is now and has always been a scam that impoverishes ordinary people for the benefit of the state-favored banker class. The regime uses many myths to manufacture support for this institution, and one of these is the myth that the Fed is “self-financed.” Jonathan Newman explains.

Also, Bill Anderson examines how politicians in California are using wild fires as a way to rip off property owners.

Ryan McMaken, Editor-in-Chief

The Myth of a Self-Financed Fed

Jonathan Newman

The Fed’s cost overruns in its building renovation project supposedly are not borne by taxpayers because, as the myth goes, the Fed is “self-financing.” However, the Fed’s “earnings” come from interest payments from the government, payments made by...taxpayers.

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The Central Banking Establishment Is Genuinely Worried About Trump

But not for the reasons they say.

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Dr. Peter Klein on International Law and “Might Makes Right”

After the Venezuela raid, Bob Murphy and Peter Klein discuss law without world government.

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Making Imperialism Great Again?

Continued betrayal by President Trump of his no more regime change wars pledge will cause the president and the Republicans to lose support among younger voters.

Multifamily Delinquencies Rise Again, Hit New Post-Great Recession High

Freddie Mac’s delinquency report for multifamily properties shows delinquencies above the Great-Recession peak.

Old vs. Young and Rich vs. Poor: How Government Creates Class Conflict

Inflation and its consequences lead to intergenerational conflict for several reasons, making different groups rivalrous while the state expands.

The United States v. Jerome Powell

Tho, Ryan, and Connor discuss the reported probe into the Fed Chair.

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The Misesian

The latest issue of The Misesian discusses why, without private property, there is no way to plan for the future, and one’s goods are always subject to confiscation from the more powerful. In other words, a world without private property is a lawless world.